I think, with RSI below 50, there is scope for some more downward movement. I think there is a strong support at @ 77, hence SL @ 75.
It will be safe to go long after we see a reversal signal i.e. RSI crossing 50, as price may consolidate before moving up.
It will be safe to go long after we see a reversal signal i.e. RSI crossing 50, as price may consolidate before moving up.